Group

Make Michelin a leader in sustainable mobility. Rank amongst the world’s most innovative, responsible and high-performing companies. In our quest to make sustainable mobility a reality, we move closer to this ambitious goal every day. Offering everyone a better way forward – that’s Michelin’s purpose.

Development and Sustainable mobility

The Group’s societal responsibility is embodied by its Development and Sustainable Mobility strategy. This strategy aims to make Michelin one of the most innovative, responsible, and high-performing companies worldwide across all of its responsibilities: economic, environmental, social and societal.

2017 guidance confirmed

Over the full year, tire markets are expected to track the trends observed in late 2016, in particular with the upturn in mining tire sales. For Michelin, most of the growth will be concentrated in the first six months, due to the early buying already occurring ahead of the price increases, and these will drive an improvement in margins in the second half of the year.

Michelin will continue to agilely manage prices so as to hold unit margins firm in businesses not subject to indexation clauses, given that higher raw materials costs will have a currently estimated impact of approximately €(900) million over the full year. As part of this process, new price increases have been announced in certain markets.

For the full year, Michelin confirms its targets of volume growth in line with global market trends, operating income from recurring activities equal to or exceeding the 2016 figure at constant exchange rates, and structural free cash flow of more than €900 million.